Texas § 154.253 DEPOSIT OF MONEY PAID OR COLLECTED.

Texas Statutes

§ 154.253 — DEPOSIT OF MONEY PAID OR COLLECTED.

Texas § 154.253

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 154.253 (2026).

Text

Sec. 154.253. DEPOSIT OF MONEY PAID OR COLLECTED.

(a)Not later than the 30th day after the date of collection, the money, other than money retained as provided by Section 154.252 , shall be deposited:

(1)in a financial institution that has its main office or a branch in this state in an interest-bearing restricted account insured by the federal government; or

(2)in trust with a financial institution that has its main office or a branch located in this state and is authorized to act as a fiduciary in this state, to be invested by the financial institution as trustee in accordance with this subchapter.

(b)An account described by Subsection (a), including a trust account, shall be carried in the name of the funeral provider or other entity to whom the purchaser makes payment and must incl

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Sec. 154.253. DEPOSIT OF MONEY PAID OR COLLECTED. (a) Not later than the 30th day after the date of collection, the money, other than money retained as provided by Section 154.252 , shall be deposited:
(1) in a financial institution that has its main office or a branch in this state in an interest-bearing restricted account insured by the federal government; or
(2) in trust with a financial institution that has its main office or a branch located in this state and is authorized to act as a fiduciary in this state, to be invested by the financial institution as trustee in accordance with this subchapter.
(b) An account described by Subsection (a), including a trust account, shall be carried in the name of the funeral provider or other entity to whom the purchaser makes payment and must include the words "prepaid funeral benefits" or "pre-need funeral benefits."

Anderson-Clayton Bros. Funeral Home, Inc. Restland of Dallas, Inc. Restland Funeral Home Singing Hills Funeral Home, Inc. Laurel Land Funeral Home of Forth Worth, Inc. Blue Bonnet Hills Funeral Home, Inc. And Blue Bonnet Hills Memorial Park, Inc. v. Carole Keeton Strayhorn, Comptroller of Public Accounts of the State of Texas And Greg Abbott, Attorney General of the State of Texas

(Court of Appeals of Texas, 2004)

Legislative History

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.024, eff. Sept. 1, 1999. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 39 (S.B. 297 ), Sec. 4, eff. September 1, 2013.